Summary of Key Findings and Issues Uncovered
Based on all of the aforementioned research and analysis, we have made several observations and conclusions that are relevant to the strategic outlook of the firm. The conclusions cover a wide range of issues including, industry outlook, key unmet needs of consumers, and other relevant topics. Specifically, we have made the following conclusions:
MyLegacy is lacking a strong digital portfolio, which includes the company website, social media presence, and search engine optimization (SEO): In the business to consumer world, it is imperative that a company has a strong presence online, especially for a company that offers services digitally. For Family Care Path and MyLegacy, the digital portfolio is weak and may require improvement. Most notably, “MyLegacy” does not rank well in a Google search, which is problematic for a start-up company that is relying on website traffic for conversions. Moreover, both Family Care Path and MyLegacy are inactive on Facebook and Instagram, and only Family Care Path has a small presence on LinkedIn and Twitter.
There is a gap between the amount of marketing that is required and the resources that are available to the firm: A successful marketing strategy is going to be integral to a successful launch into the direct to consumer marketplace. Especially for a new product or service, educating consumers, conveying key information and establishing a brand identity is essential. As such, Family Care Path can expect to spend time and resources on the marketing campaign to ensure its success. However, Family Care Path does not have ample resources available to devout to marketing. This gap between required and available resources will need to be addressed.